PALO ALTO, Calif.–(BUSINESS WIRE)–Unravel
Data, the only data operations platform providing full-stack
visibility and AI-powered recommendations to drive more reliable
performance in modern data applications, today announced it has raised
$35 million in an oversubscribed Series C funding round. Point72
Ventures, founded by renowned hedge fund investor Steve Cohen, led the
round with participation from Harmony Partners, and existing Unravel
investors Menlo Ventures, GGV Capital and M12 (formerly Microsoft
Ventures).

“At first glance, application performance management (APM) may seem like
a problem that has been addressed by the APM and log management vendors
such as AppDynamics, New Relic, Splunk, and DataDog. The reality is that
these solutions were not initially built for modern data systems. By
being natively built with modern IT in mind, Unravel can
cost-effectively deliver the data application awareness and AI-powered
recommendations, resolutions, and answers that organizations demand,”
said Mike Leone, senior analyst at ESG. “Additionally, as workloads
migrate to cloud platforms, the complexity of multiple systems, locality
of services and technologies, different operating and pricing models,
and constantly changing dependencies throughout the data pipeline add
higher levels of risk to migrations, performance optimization
challenges, and cost concerns.”

“Most industry-leading companies are now software businesses, and a
majority of those businesses are running on top of mission-critical big
data applications,” said David Dubick, Partner, Point72 Ventures. “These
big data tailwinds have created a demand for tools to monitor, optimize
and secure these systems, and Unravel is uniquely positioned to address
this need in the marketplace.”

“CIOs in our network told us story after story of traditional
application monitoring tools failing in a big data context because those
tools were designed for the world of the past. And we didn’t just hear
this problem from third parties, we were seeing it at Point72 as well,”
said Matthew Granade, Chief Market Intelligence Officer at Point72 and
Managing Partner of Point72 Ventures. “This new architecture requires a
different product, one built from the ground up to focus on the unique
challenges posed by big data applications. Unravel is poised to capture
this emerging big-data APM market.”

Company Momentum Highlights

Today’s funding news follows a year of significant momentum for Unravel
as evidenced by a series of milestones:

Annual Recurring Revenue (ARR) growth of 500%

Cloud Services Product and Partner Momentum

Microsoft Azure Cloud Partner Ecosystem — Unravel introduced
support for Azure services and uses operational data from Azure
HDInsight, Spark, Kafka, Hadoop, Hive, and HBase to automatically
troubleshoot on-going issues that reduce confidence and
performance on customers’ clusters. Unravel also correlates this
full-stack data to help in migration to Azure. Unravel is
available on the Microsoft Azure Marketplace and is co-sell ready.

“Every business is becoming a data business, and companies are relying
on their data applications such as machine learning, IoT, and customer
analytics, for better business outcomes using technologies such as
Spark, Kafka, and NoSQL,” said Kunal Agarwal, CEO, Unravel Data. “We are
making sure that these technologies are easy to operate and are high
performing so that businesses can depend on them. We partner with our
customers through their data journey and help them successfully run data
apps on various systems whether on-premises or in the cloud.”

“Enterprises are turning to technologies like Spark, Kafka, MPP, and
NoSQL to embrace a data-centric approach to their business. The
challenge is that there are massive skills shortages associated with
architecting, managing, and optimizing all these integrated tools
supported by numerous vendors across a data pipeline. In fact, on
average, organizations work with 37 different vendors across their data
pipeline today. Many of the technologies they rely on have their own
monitoring and management tools, and this exacerbates the problem,
creating operational silos and ultimately preventing end-to-end
insight,” said Mike Leone, senior analyst at ESG. “How can organizations
effectively utilize a wide range of applications like customer
analytics, fraud prevention, and predictive maintenance that rely
heavily on next-generation technology like AI and machine learning? By
turning to a comprehensive data operations platform. Unravel allows
customers to manage and optimize all their data pipelines from one
location. By using AI-driven recommendations and automation, a high
percentage of manual troubleshooting can simply be eliminated, enabling
data operations teams to be proactive in preventing future issues.”

“As enterprises of every size choose the Azure Cloud platform to build
and deliver their modern data applications, Unravel has proven an
important tool to help operationalize this data and drive tangible value
to the business,” said Rashmi Gopinath, partner, M12 Ventures. “Azure
and Unravel have worked closely on product development and go-to market
execution and are well positioned to meet this market demand.”

Investor Quotes

“There’s a tremendous need to enable organizations to maximize the value
of their data infrastructure investments,” said Mark Lotke, founder and
managing partner, Harmony Partners. “Unravel fills that gap perfectly as
the only company that is truly using machine learning and an AI-driven
platform to optimize and operationalize data-driven applications and the
data systems they depend on at scale. The Unravel team demonstrated
incredible growth in 2018 and is poised for an even bigger year in 2019
as demand for data operations solutions accelerates.”

“It’s clear that enterprises continue to struggle with dealing with the
enormous amount of data that fuels their businesses. Legacy approaches
have failed and they need to modernize their systems or risk being made
irrelevant. Unravel is leading the pack in providing technology
innovations that provide this competitive edge and fuel the next
generation of cloud and hybrid cloud data services,” commented Venky
Ganesan, managing director, Menlo Ventures.

“Since we led the company’s B round, we have been blown away by the
market momentum that Unravel has achieved in a short space of time.
There is clearly an unmet need in large enterprises for solving the
complexity and operational challenges they face as they transition to
being data driven and cloud first,” said Glenn Solomon, Managing
Partner, GGV Capital. “Current approaches are failing these data ops
teams and Unravel has come to market with technology innovation and
go-to-market execution that is solving real world problems, today.”

About Unravel Data

Unravel radically simplifies the way businesses understand and optimize
the performance of their modern data applications – and the complex
pipelines that power those applications. Providing a unified view across
the entire stack, Unravel’s data operations platform leverages AI,
machine learning, and advanced analytics to offer actionable
recommendations and automation for tuning, troubleshooting, and
improving performance – both today and tomorrow. By operationalizing how
you do data, Unravel’s solutions support modern big data leaders,
including Kaiser Permanente, Adobe, Deutsche Bank, Wayfair, and Neustar.
The company is headquartered in Palo Alto, California, and is backed by
Menlo Ventures, GGV Capital, M12, Point72 Ventures, Harmony Partners,
Data Elite Ventures, and Jyoti Bansal. To learn more, visit unraveldata.com.

Copyright Statement

The name Unravel Data is a trademark of Unravel Data™. Other trade names
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